PAYROLL NUMBERS

The numbers are:

Unemployment rate for Feb- 8.1%;

Non Farm Payrolls - -651,000;

AVG Weekly hours worked - 33.3 hours;

The economy has lost about 4.4 million jobs since the recession began in 2007 and about 2.6 million jobs in the last 4 months.

Interesting comments from Peter Yaz this morning on Squawk Box - something to the effect of - the industrial revolution began with the cotton gin or steam engine or something like that and ended at the Beijing Olympics- he was bearish and he has been right as he loves to gloat.

Futures up a bit on the not worse than expected news.